Letter: It was bad news for Bidenomics

Dear Editor,

Heritage Foundation economist Stephen Moore had tremendous news for President Donald Trump and the American people. But he also has some bad news for anyone singing the praises of Bidenomics.

Moore made an appearance alongside Trump for a news conference in the Oval Office to give his report on the economy’s performance under the first Trump term, former President Joe Biden’s term, and the first five months of Trump’s second term.

As previously stated, some of this news is great for Trump — while other bits of information don’t reflect kindly on the former president.

Moore started by telling the room that in the final two years of Biden’s term, the Bureau of Labor Statistics overshot jobs created by an astounding 1.5 million. “That’s a gigantic error,” Moore told Trump, who quipped, “It might not have been.”

Even when the COVID-19 pandemic caused Trump’s performance in that category to dip, it was still substantially better than Biden’s. Under Trump, average real income gains for families were $6,400. Biden only managed $551.

Compared to Biden, Moore explained, “Mr. President, you gained ten times more income for the average family than Joe Biden, and it’s because of your policies.”

The bad news for Biden only continued as Moore explained that every income group did better under Trump’s first term compared to Biden’s.

“The rich were the only group that did better under Biden, which is ironic because Biden kept saying he was trying to get rid of income inequality. He made income inequality worse, not better. It was President Trump who reduced income inequality,” Moore concluded.

When breaking it down in terms of numbers, the 25th percentile gained around $4,000 under Trump. The middle class gained $6,400, and the wealthiest bracket gained almost $10,000. “You can see every income group did better under Trump than Biden.”

Sincerely,

Jim Outman 

Owego, New York